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Almost anyone could do a better job than JT I don't see why hes not fired its not like hes a major shareholder given that he sells most of his shares immediately...
I don't want the company sold for 7 bucks we should get at least say 12 and probably 15 to 20 based on Europe... especially with Thero gone. A good CEO could even get us most of the value in the US market by doing the right kind of deal with Teva...
But I would like clarity as to whether they are going to sell it in the near term or not because I want to do what I did throughout the whole post Du but pre Appeal rejection period, sell covered calls. However if they are going to sell the company soon then I don't want to sell covered calls.
Do you have to be a lawyer or a judge to know that the 9th circuit is full of liberal activist judges (almost exclusively)?
I would have NEVER okayed filing in the 9th circus, not if it was about protecting my property rights against people who could claim they wanted to lower the cost of medicine for the poor downtrodden whoever...
Thero obviously knows only how to steal our money and should be fired yes.
Lars@sofinnova.com
According to Lrich and when I sent it I didn't get a failure to deliver so...
There is almost no chance we win the en banc if we are even heard by it.
Focus your energy on trying to get the management fired.
Contact information for other board members and the Baker brothers would also be appreciated from anyone who has them.
I would like to write the Baker Brothers why they are so blase about Thero destroying their own investment when it could easily be worth more than ever if we had a competent CEO.
I would change the syntax a little our letters sound so similar Ekman is going to think I'm the same person writing using a different email address and this will make him even more inclined to ignore both of them. I've already sent mine.
What are your sources if you may ask?
If you cannot reveal them can you at least explain why the board is so attached to this failure of a CEO?
My email to Lars Ekman
Subject: The Future of Amarin Management
Dear Mr. Ekman,
I do not have the email addresses of any other board members and emailing IR is useless since they work for Thero. I know you are probably a very busy man and probably have heard this before but nonetheless after seeing such failure from Amarin's management I feel compelled to speak to someone in a position to do something about Thero and what I and many other shareholders consider the incompetent management of Amarin.
John Thero represents Amarin and Vascepa poorly to wall street and others in the industry. Despite having risen from an accountant to the CEO he has never learned to speak properly. In fact he makes Ben Stein in Ferris Bueller look charismatic. A CEO who can energetically promote the company makes a difference (look at Tesla despite certain accounting irregularities its over 1000 dollars) and Amarin very much needs this right now.
In addition Thero has made a number of very poor decisions. 1st of all he allowed the patent lawsuit to be filed in the 9th circuit court district (Kennedy should be fired for this too as chief legal counsel). Amarin would have almost certainly prevailed in the lawsuit had they gotten a Republican judge who would be more inclined to respect property rights and the letter of the law. This error alone is unforgivable and all who supported this decision should be fired.
Despite angering the FDA with the free speech lawsuit (and I agree with the free speech lawsuit) he has not exploited what he won to market Vascepa aggressively over the counter from the minute the Reduce-IT study was published. Why win that right in court if you are not going to use it. There was nothing legally stopping direct to consumer commercials highlighting the Reduce-IT results. Given that the FDA has approved Hikma's drug there was no point in playing nice with the FDA regarding this point.
Also given how political drug marketing is Thero has spent no money hiring lobbyists... I cannot but feel that if Amarin had some political backing things would have gone better not just with the patent court but with insurance coverage and many other things would have gone better. Most pharma companies spend extensively on lobbying and I think not without good reason.
Thero has also compensated himself very well at shareholder expense despite all this bungling that I cannot consider him anything else but a thief. At the very least management compensation needs to be cut to the bare minimum its my understanding Thero and his fellow crooks are now helping themselves to something like 30 million a year.
Thero appeared to have made one good decision in his very unpopular dilution to raise 400 million dollars BUT its questionable whether this would ever have been needed had the company done the right thing and filed the court case in a district where he would have been almost certain to get a conservative judge.
There is still great value in Vascepa but I do not believe it can be realized with Thero and Kennedy there. I also believe that Wall Street has zero confidence in them. I would greatly appreciate you at the very least responding to me and removing any ambiguity as to whether the board is considering his dismissal and that of Kennedy as well if the board has decided that Thero will stay on no matter what I have no faith in the future of this company.
Thank you very much.
Everyone here should flood Lars email with well written letters outlining Thero's failings and that he should be fired as a matter of fiduciary duty.
Damnit if people have the Lars Ekman email address what the hell is it!!!
We all need to be writing everyday demanding the dismissal of Thero and Kennedy. They are a cancer.
Marjac also I'd like to know if you are still serious about suing to replace the board especially in the event Thero and Kennedy stay on.
Lars Ekman email!!!
Who has it, what is it?
What is the email address of this Lars Ekman. We should all be flooding the board with demands for Thero's firing since contacting IR is useless in that regard.
And we're down on the annoncement of the fat stammering tw*t speaking of course.
The only speech he should give is one announcing his resignation.
A PR saying that Thero and Kennedy were fired would do far far more. It would be better if they said they had security escort them out.
https://getyarn.io/yarn-clip/8f394dac-4479-4a22-83da-02c029c1fb70
You mean destroying shareholder value...
Seconded, Thero, Kennedy and the board that has protected them needs to be removed.
All the four judges who screwed AMRN were appointed by Democrats, Covington which advised the idiot crooks Kennedy and Thero to file in the 9th circuit is a seemingly far left law firm they were the same firm that deliberately botched the General Flynn case. Leftists do not understand or care about economic incentives, consistent and fair application of the law or property rights. A wrapping of shallow Feelings and utopian fantasies around a core of envy and power seeking are what drives them and they never help anyone only create perverse incentives and ruin nations.
Leftists (along with AMRN's incompetent management) are COMPLETELY responsible for this and I never watch Fox News with the exception of the occasional clip from Tucker Carlson. Suharto had the right idea of what to do with leftists...
Were you the one who kept saying it was going to be sold every monday for a year?
There is no such thing as the law!
This case proves it. Who gives a fuck if its theoretically illegal. If actual patent law was followed we wouldn't have been robbed. We are living in anarcho tyranny fuck the law.
The Generics have only won the right to compete... including with each other. Much better to make an arrangement where we and they don't have to actually compete.
How can you say management yes?
The management is incompetent to a degree I never would have thought possible.
Not when you are living in an anarcho-tyranny... rule of law is a lie and always was but the governing class at least sort of used to care about keeping up appearances.
Imagine going through all this and thinking that there is still such a thing as the law.
There is no law with corrupt democrat judges making up any laws they want we live in anarcho-tyranny. What are the actual penalties for paying to delay. Who would have standing? Just get it done and f*** the so called law.
In the 9th circuit!!!
If we had a judge who ruled on the law at the district level, a republican judge this never would have happened. They could have filed in the South and be almost guaranteed a conservative republican judge.
Marjac I would like to be a plantiff too, on the one condition that the firing of JT, the barring of his future involvement with any of AMRN's affairs, and the cancellation of any compensation that legally can be cancelled for management be absolutely non-negotiable positions of any settlement.
The probability of getting worse than Thero are almost none. Thero's only interest in the company is cashing his form 4's anyway, if he had any other he at least would have learned to speak properly.
This is stupid thinking. Anyone of us could do a better job than Thero.
A random wino would probably do a better job than Thero. Any random night school paralegal studying for the bar would be better than Kennedy.
Sure I'd want to find someone good to replace Thero but while that happens anyone would be better in the interim. Thero is a stammering cancer.
Wouldn't you also fire the entire (business related not medical related) part of the management?
Seconded on the derivatives lawsuit, the objective should be a settlement where they agree to fire JT and Kennedy and bring in an outsider CEO. Also management compensation in the future needs to be cut to the bare bones.
https://smallbusiness.chron.com/extent-shareholders-control-activities-corporation-66661.html
"If a shareholder believes that the management of the company is violating their duties to the company or its shareholders, he can try to make a formal demand on the board of directors or to initiate a shareholder resolution to remove or replace the directors. However, if he is in a minority position, he can still institute a derivative lawsuit on behalf of the corporation against the directors. This lawsuit alleges that the corporation has been harmed by breaches of duty by the directors and any recovery goes back to the corporation. It can be an effective way to push the corporation in a new direction and to chasten directors or officers who have been acting inappropriately."
So what do the lawyers here know about this? We can't sue Thero but we can sue the directors to remove him? Are the directors personal assets at stake?
WTF is wrong with the Baker Brothers
Why does John Thero still have a job???
You're more nuts than usual.
There is nothing we can do about the banana republic court, we got all Democrats. This is what Democrats do. We likely wouldn't be in this situation if Thero Kennedy and Cowen hadn't decided that filing in the 9th circuit was a good idea. BB if you want to go to war the war should be against the current management.
Teva deal can certainly exist. AMRN has a favorable supply situation.
The problem is Thero is way too stupid to do a Teva deal.
Its nonsense if they fire JT. It's all it will ever be worth with him there.
7 a share is too low AMRN can do a deal with teva and be worth 12 at least anyway.. that being said if we are stuck with JT the moron I'll take 7.
JT just sat on his ass as the Reduce-IT clock ran out, he didn't save anything.
Anyone could have done that.
Any actions should be aimed at not just Kennedy but JT.
They BOTH have to go. I think the entire management that isn't strictly on the science/tech side of the business should go.
Is it possible for shareholders to take legal action to remove the board and the CEO when not having the largest single controlling interest... ie in our case without being the Baker Brothers.
Lets say the Baker Brothers remained neutral.
Is there such a thing as a class action suit to remove the current board and fire the CEO?
AMRN doesn't have enough cash to make up our losses but AMRN can still make a lot of money if we had the right people in charge?